Catenaa, Tuesday, October 28, 2025-Singapore-based crypto exchange Crypto.com applied for a national trust bank charter from the US Office of the Comptroller of the Currency, joining Coinbase, Ripple, Paxos, and other digital asset firms in seeking federal recognition.
The exchange said the charter would enhance its custody technology and expand services, including staking and asset management across multiple blockchains, notably its Cronos Layer 1 blockchain.
Cronos recently sold $178 million in tokens to Trump Media.
Crypto.com has led trading volume among major exchanges in recent months, processing $83.9 billion in September and $94.3 billion so far in October, exceeding Coinbase’s activity during the same periods.
The company hopes the charter will strengthen its position as a custody provider for institutional investors, including digital asset treasuries and exchange-traded funds.
The OCC, now led by former Bitfury chief legal officer Jonathan Gould, has previously granted preliminary approval to Erebor Bank, signaling the regulator’s willingness to license banks engaging in digital asset operations.
Gould said the approval demonstrated that the OCC “does not impose blanket barriers” on banks pursuing crypto-related activities.
Industry analysts said Crypto.com’s application reflects a growing trend among major crypto firms to secure federal charters, which could increase legitimacy and offer broader operational flexibility under US banking law.
